How Spontaneous? How Regulated?: The Evolution of Property Rights Systems

Author:Richard A. Epstein
Position:Laurence A. Tisch Professor of Law at New York University School of Law

The property rights literature has had an extensive debate over the extent to which systems of property rights can be spontaneously generated by custom and common practice, without the positive intervention of the state. This Essay takes a divided view on that question, noting that these property rights, often with uncertain stability, can be created when it is possible to create a system of... (see full summary)

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